David Leslie Arlein of Boca Raton, Florida, a stockbroker registered with Cabot Lodge Securities LLC, is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $300,000.00 in damages based upon allegations that Arlein was negligent, made misrepresentations of material facts, breached a contract, breached his fiduciary duty, failed to supervise, and violated industry regulations in connection with the sale of private placements during the time that Arlein was associated with Cabot Lodge Securities LLC. Financial Industry Regulatory Authority (FINRA) Arbitration No. 23-01916 (July 6, 2023).
FINRA Public Disclosure shows that Arlein was referenced in twenty-two (22) other customer initiated investment related disputes concerning Arlein’s conduct while associated with securities broker dealers. On January 12, 2023, a customer filed an investment related FINRA securities arbitration claim involving Arlein’s conduct in which the customer requested damages between $500,000.00 to $1,000,000.00 based upon allegations that Arlein breached a contract, committed fraud, was negligent, negligently supervised certain representatives, breached his fiduciary duty, violated Securities Exchange Act of 1934 Sections 10(b) and 20(a) and SEC Rule 10b-5, and violated Florida Securities and Investor Protection Act in connection with the sale of GWG-L Bonds when Arlein was associated with Cabot Lodge Securities LLC. FINRA Arbitration No. 23-00105.
On October 1, 2021, a customer initiated investment related FINRA securities arbitration claim involving Arlein’s conduct was settled for $200,000.00 in damages based upon allegations that when Arlein was associated with Cabot Lodge Securities LLC, he breached a contract, violated state securities laws, breached his fiduciary duty, was negligent, misrepresented and omitted material facts, unjustly enriched himself, and failed to supervise certain representatives in connection with the recommendation and sale of non-traded REITs, BDCs, UITs, private placements, and GWG L-Bonds.. FINRA Arbitration No. 20-03489.
Arlein was also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $150,000.00 in damages based upon allegations that Arlein was negligent and engaged in unsuitable trading in non-traded REITs during the time that Arlein was associated with Cabot Lodge Securities LLC. FINRA Arbitration No. 19-03213 (November 20, 2020).
A different customer initiated investment related FINRA securities arbitration claim involved allegations of unsuitable recommendations in direct investments (DPPs and LPs) and unit investment trusts during the time that Arlein was associated with Jesup Lamont and Fintegra LLC. The settlement amount was $35,000.00. FINRA Arbitration No. 14-00090 (May 19, 2014).
Arlein was additionally involved in a customer initiated investment related FINRA securities arbitration claim that was settled for $30,000.00 in damages on February 16, 2013, based upon allegations of unsuitable recommendations in LP interests and DPP interests. FINRA Arbitration No. 12-03041.
Arlein was also the subject of a customer initiated investment related FINRA securities arbitration claim. That was settled on January 23, 2013, for $75,000.00 in damages. The claim alleged unsuitable recommendations in common and preferred stock and direct investments. FINRA Arbitration No. 12-00643.
Arlein was registered as a stockbroker with Cabot Lodge Securities LLC in Boca Raton, Florida from March 12, 2014, to October 26, 2022.
